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Duplicate of AP Government Economic Policy Review Flashcards | StudBud
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Duplicate of AP Government Economic Policy Review
Duplicate of AP Government Economic Policy Review
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#It'stheeconomystupid!
Flashcards
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Questions
39
Answers
1
What is the source for the money in the Social Security Trust Fund?
Federal Sales Taxes
Payroll Taxes
Income Taxes
Progressive Taxes
2
If inflation is very high, how could government fiscal policy fix this?
buy treasury bonds/lower interst rates
lower interest rates/lower taxes
lower taxes/raise spending
raise taxes/lower spending
3
If the Federal Reserve wanted to slow the rate of economic growth, it would most likely?
increase interest rates
lower interest rates
encourage the president to lower taxes
increase the money supply
4
A decrease in prices of goods and services, a drop in demand and increase in unemployment is?
Consumer deficit spending
Credit Bubble
Inflation
Deflation
5
The health care program allowing people to pick an insurance provider from a gov't exchange is?
Affordable Care Act
Medicare
Social Supplementary Income
Medicaid
6
What is a coming issue with Social Security in the next 25-30 years?
Too many workers will be paying into the system
Too many retirees and not enough workers paying payroll tax
Too many scheduled cost of living increases
Social Security is scheduled to ens in the next 25-30 years
7
Management of money supply and interest rate is?
Entitlement policy
Fiscal Policy
Inflationary Policy
Monetary Policy
8
This Star Wars clip is from which movie?
Return of the Jedi
The Force Awakens
Revenge of the Sith
The Last Jedi
9
This clip is from what Star Wars movie?
The Force Awakens
Revenge of the Sith
The Phantom Menace
Attack of the Clones
10
Government adjusts its spending levels, tax rates to monitor and influence a nation's economy?
Fiscal Policy
Government Policy
Monetary Policy
Public policy
11
What Jedi fufilled the prophecy and finally brought balance to the Force in Return of the Jedi?
Anakin Skywalker
Obi-Wan Kenobi
Mace Windu
Luke Skywalker
12
Which of the following is an example of monetary policy?
decreasing federal spending
ncreasing food and drug regulations
lowering interest rates
lowering state property and sales tax
13
Buying and selling of gov't bonds in order to expand/contract money in the banking system is?
Increasing the trade deficit
Increasing the Discount Rate
Increasing the reserve requirement
Open Market Operations
14
The two main
tools
of
fiscal policy
are?
spending and interest rates
progressive and regressive taxation
interest rates and open market operations
taxes and spending
15
Government of a country to achieve objectives like inflation, consumption, growth liquidity?
Fiscal Policy
Monetary Policy
Interest Rate Policy
Policy of Truth
16
What kind of tax increases at lower levels of income as a percentage of overall income?
Proportional
Regressive
Progressive
Property
17
What makes up 75% of economic activity in the United States?
Consumer Spending
Government Spending
Manufacturing
Minimum Wage Job Activity
18
The total sum of all goods and services produced in an economy is called?
Gross Domestic Product
Monetary Policy Summation
Deflation
Inflation
19
Which of the following strategies does monetary policy dictate in inflationary periods?
The Federal Reserve should lower interest rates.
The Federal Reserve should raise interest rates.
Congress should balance the federal budget.
Congress should increase spending.
20
What is an example of a regressive tax?
Payroll tax
Proportional tax
Income tax
Sales tax
21
What economic theory calls for lower taxes and less regs. to generate economic growth?
Supply Side
Monetarism
Keynesian
Voodoo Economics
22
What economic theory allows for government deficit spending to generate economic growth?
Monetarism
Keynesian
Obamanomics
Supply-Side
23
Lowering the discount rate would have which of the following effects?
It would decrease the overall rate of taxation
It would discourage banks borrowing from the Fed
Encourage banks to borrow more and to extend more loans
It would decrease the amount of bonds sold
24
Which of the following is responsible for setting interest rates in the United States?
Federal Reserve
Supreme Court
Securities and Exchange Commission
Congress
25
What kind of tax increases as you income increases?
Regressive
Progressive
Regressive
Proportional
26
What do economists use gross domestic product to measure?
total value of goods and services produced in the economy
the rate of government spending in the economy
the total value of all credit in the economy
the total value of government expenditures in the economy
27
What is the best example of a progressive tax?
Excise Tax
Sales Tax
Income Tax
Payroll Tax
28
The government program that provides benefits to citizens who meet eligibility requirements is?
Entitlement Program
Appropriations Program
Minimum Program
Basic Income Program
29
Which of these is most consistent with the philosophy of Keynesian economics?
deregulation efforts of President Reagan in the 1980s
interest rate increases by the Federal Reserve
government provision of the 2008 federal stimulus package
government decisions to increase the money supply
30
Rate at which the FED lends money to banks on an overnight basis is?
Prime Lending rate
Tax rate
Federal Funds rate
Discount rate
31
What is the best example of proportional tax?
Sales Tax
Health Care Tax
Income Tax
Payroll Tax
32
The annual shortfall between federal revenues and expenditures is known as?
Budget Deficit
Trade Deficit
Balance of Payments
National Debt
33
What is the purpose of deregulation in the American political economy?
to remove inefficient barriers to productivity and growth
to increase the barriers to economic productivity
to increase the power of large economic monopolies
to remove inefficient barriers in the collection of taxes
34
What kind of tax is a fixed percentage per dollar of income?
Progressive
Income
Regressive
Proportional
35
This is the Jedi funeral of?
Anakin Skywalker
Yoda
Qui-Gon-Jinn
Obi-Wan Kenobi
36
Inflation is best understood as the rate at which
the Federal Reserve Board expands the money supply
prices for goods and services decrease
gross domestic product expands
prices for goods and services increase
37
What is the primary tool that monetary policy uses to affect the overall economy?
Government Spending Caps
Interest Rates
Regulation Oversight
Marginal Tax Rates
38
Which of the following provides the greatest source of revenue for the federal government?
Corporate Income Taxes
Value Added Taxes
Import Taxes on goods from China
Personal Income Taxes
39
What is the main purpose of monetary policy?
To equalize income disparity among citizens
To control the amount of public debt
Set how much money is available to businesses and banks
Expand the government's revenue so as to reduce the deficit
